MD Loses 5700 Jobs (Baltimore, Bethesda, Towson: 2015, layoffs, employers)

[kinkytoes]

In an article in my copy of the Jeffersonian by Natalie Sherman dated April 28, 2015, the US department of Labor released numbers that indicated that MD employers shed 5700 jobs. The state's jobless rate remained unchanged at 5.4 percent, just below the national average.

This was surprising to me as "payrolls in the public sector fell by 3,300." Public sector jobs are big in MD to my understanding. The article goes on to discuss private employers after this. "Riverbend Technology" a company "recently acquired by private equity...firm Thoma Bravo, warned the state of layoffs of 69 people at its Bethesda location."

Neither Daraius Irani, the chief economist at Towson State's Regional Economic Studies Institute nor Nancy Mcrea, the research director at the MD Department of Business and Economic Development seemed to be worried. They seemed to find the numbers to be an aberration.

The article also reported that March report was the first set of losses after months of upward trends in hiring. Nevertheless, our "year over year growth rate" of 1.4 percent was still well below the 2.3% national rate according to the article. 31 other states also saw payrolls decrease during the same period.

Reprint in Carroll County Times:

Maryland loses 5,700 jobs in March - carrollcountytimes.com

[bufflove]

Originally Posted by kinkytoes

In an article in my copy of the Jeffersonian by Natalie Sherman dated April 28, 2015, the US department of Labor released numbers that indicated that MD employers shed 5700 jobs. The state's jobless rate remained unchanged at 5.4 percent, just below the national average.

This was surprising to me as "payrolls in the public sector fell by 3,300." Public sector jobs are big in MD to my understanding. The article goes on to discuss private employers after this. "Riverbend Technology" a company "recently acquired by private equity...firm Thoma Bravo, warned the state of layoffs of 69 people at its Bethesda location."

Neither Daraius Irani, the chief economist at Towson State's Regional Economic Studies Institute nor Nancy Mcrea, the research director at the MD Department of Business and Economic Development seemed to be worried. They seemed to find the numbers to be an aberration.

The article also reported that March report was the first set of losses after months of upward trends in hiring. Nevertheless, our "year over year growth rate" of 1.4 percent was still well below the 2.3% national rate according to the article. 31 other states also saw payrolls decrease during the same period.

Reprint in Carroll County Times:

Maryland loses 5,700 jobs in March - carrollcountytimes.com

Outliers like this will always happen from time to time, so I don't find it too concerning. I'm just hoping Baltimore doesn't shed a lot of jobs due to current events. Hopefully things have normalized quick enough that we won't see too harsh an economic falloff. Time will tell.